Office of Foreign Assets Control (OFAC) requirements deals with every account relationship and transaction that the bank offers to its customers. This course centers on the OFAC regulations designed to impose economic sanctions against certain designated countries, what transactions are involved, and how to handle suspicious transactions. OFAC terminology is also included.
| Price |
$130 Nonmembers / $95 Members |
| Course Credits |
AIB: 0 ; ICB: 1.25 (CRCM) |
| Prerequisites |
None |
| Required Software |
None |
| Optional Software |
Adobe Acrobat Reader and RealPlayer |
Audience
Bank personnel who have deposit or lending responsibilities.
Learning Objectives
After completing this course, students will be able to:
- Define the purpose of OFAC
- Describe the purpose and use of the Specially Designated Nationals and Blocked Persons List
- Explain what to do when there is a match name
- Identify the reports that must be made
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